Amex Gold card is not a credit card but it is a charge card. I will explain you about charge card a bit later.
As far as I have seen, all American Express Cards comes with Annual Charges. Let me know, if anyone has been able to get a waive off in Annual charges.
American Express Gold Card Review:
All of us look for a card which lends the money at no extra cost. We all want something which is available for free.
But please do remember, Amex card comes with annual charges. Like you, I thought it is not a good idea to pay annual charges for a card and then use it.
You have to continue reading further because I am going to knowledge you on why this is one of the best cards available in market.
American Express Gold Card Benefits:
The benefits provided by Amex card outweigh the annual charges you need to incur.
Everyone should sign up for this card to avail this benefit. I am sure that you would be willing to try out this card atleast for first year. Even I was amazed after doing some calculations on how Amex Gold card will help me in saving more money. Try to accumulate as much as bonus points. The reward at the end is great.
Money Saved is money earned. I am going to tell you the benefits this card provide, the rewards of which is great.
AMEX GOLD CARD WILL GIVE YOU 1000 POINTS EVERY MONTH FOR USING THE CARD FOUR TIMES IN A MONTH WITH TRANSACTIONS OF 1000 INR.
You just need to spend 4000 INR using this card every month.
You know that India is moving towards becoming cashless economy. The mobile wallets are in trend now-a-days. I pay most of my bills in paytm and use amazon for online shopping. The easy way to spend 4000 INR in a month is to load the money into paytm wallet.
Then I can use paytm to do all my transaction without losing out the opportunity of earning 1000 bonus points.
The only reason I am willing to go on with this card is because of this 1000 BONUS points every month.
Other Benefits of American Express Gold Card:
Amex Gold Card is a charge card and not a credit card. It has no predefined limits. But you have to pay the amount in full every month. Amex Gold Card is one of the best cards for people who usually pay in full to avoid interest charges.
You will also be earning 1 reward point for every 50 INR spent. With a minimum expenses of 4000 INR per month, you will receive 80 membership reward points and 1000 bonus points as well.
You will also receive 4000 Bonus Membership reward points for using the card 3 times within 60days of your card membership.
3% cash back can also be availed at the leading fuel stations. You can find the list of fuel stations here.
You can also earn 5000 membership points upon first-year card renewal after payment of annual charges.
Annual charges of American Express Gold Card:
As I told earlier, Amex Gold Card is not free and you need to pay annual charges. I believe it is a small amount when I compare it with the benefits it provide.
Rs 1000 + Taxes – annual charges for first year.
It increases to Rs 4500 + Taxes from second year onwards.
I know 4500 is on a higher side. After I complete first year, I will try to negotiate and look upon if it annual charges can be waived off or atleast reduced.
Apart from Annual Charges, I have seen that AMEX cards are not accepted in all merchant outlets. So I am planning to use it for online transaction.
Potential Earning from Amex Gold Card:
This is a good time to get your Amex Cards and support India towards becoming a cashless society.
Look at the potential of points you can earn in a year.
|1000 Bonus points Every month||12000|
|Joining bonus for using Card 3 Times within 60 days||4000|
|First Year Card renewal||5000|
|Points earned through spending||6000|
I would recommend all of my readers to read Terms and Conditions for Amex card.
Amex Card Eligibility:
Every person is not eligible to get AMEX GOLD Card. There is some eligibility criteria imposed by American Express.
1. Personal Annual Income of INR 6 lakhs and above.
2. American Express cards are issued to residents of Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Indore, Coimbatore, Chandigarh, Ahmedabad, Surat, Vadodara.
3. If self employed, you need to check with them for eligibility.
4. You have to accept the terms and conditions which include a clause saying “You are ready to accept the card with annual fees”.
Amex Card Rewards Programme:
I have already shown you the points you can earn in a single year. With a high rewards programme offered by Amex, you can make use of these points in any of the ways
If You earn 18000 points, the reward programme is 18 carat Gold Collection. In this reward programme, you get a host of rewards to choose from like Citizen Eco Drive watch, Tanishq vouchers, Welcome Heritage Luxury Stay, Bose Soundlink Speaker or a Statement Credit of INR 7500.
Similarly there is a reward programme for 24 carat Gold Collection if you can accumulate 24000 points. The statement credit of INR 10000, Amazon Gift Card of 11000, Fitbit Alta and many more.
I am particularly interested in Statement Credit you recieve as part of these rewards programme. This is like you save 7500 INR and 10000 INR for 18 carat and 24 carat programme.
If you are able to accumulate 24000 points, you will easily earn 10000 credit.
Your Total Expenses = 1000 Annual Charges
Your Statement Credit = 10,000
Total Savings = 10000 – 1000 = 9000 INR.
Do you want to save and earn more money. Then APPLY FOR THIS CARD.
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